Orders are elements of the exchange are extremely important for effective trading. We will introduce you a little deeper with these concepts, as well as tell about the innovations of the crypto exchange Topex.io.
An order is an instruction to a broker to enter or exit from a position. Initially, the transaction seems to be very simple: press the “buy” button, if the initial conditions for the purchase are met, click the “sell” button when the time comes to sell. However, this simplified form of trading is ineffective, as it implies constant monitoring and the possibility of excessive financial losses.
The main types of orders:
- Limit order — an order at the specified price;
- Market order — instant purchase or sale at the current price;
- Stop order — placing an order when a certain price is reached;
- Trailing stop — next to the stop order price;
- Hidden orders — an order without displaying in the general order book;
The team of the cryptoexchange Topex.io has prepared a completely new warrant, which will significantly reduce losses. This smart order is possible due to the unique economic system of the exchange Topex.io. It is based on compensation for losses of traders through the formation of a compensation fund. A commission is taken with each transaction. Smart order, when opening a transaction, the unique algorithm of the Topex.io exchange will start calculating the amount of potential compensation for the selected currency pair for each bidder. Topex.io in real time begins to calculate your transaction and automatically closes the deal when the maximum allowable loss level is reached, which can be compensated for this transaction. Using this order will create conditions for traders, which virtually eliminate risks. All that will be required from the trader is to trust the algorithm.
